Parmenter Realty Lists Mandalay Towers in Irving
The 800,000-square-foot office complex in the Las Colinas Urban Center is now available for purchase.
Updated on Oct. 23, 2026 in Commercial
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Parmenter Realty Partners has officially listed the three-building Mandalay Towers office complex for sale. Located in the Las Colinas Urban Center, the property spans 800,000 square feet and currently holds an 82 percent occupancy rate.
Why it matters
The sale offers a significant investment opportunity in the Irving market, anchored by established corporate tenants and a stable lease profile. It follows a period of notable growth in the surrounding area, which has seen substantial net absorption in recent years.
The property encompasses 800,000 square feet with an 82 percent occupancy rate and an average remaining weighted lease term of 5.5 years. The Dallas Central Appraisal District currently values the office complex at $41.5 million.
The players
Parmenter Realty Partners
A real estate investment firm that manages and develops office properties across the United States.
AmeriCredit GM Financial
A major automotive finance company that maintains a significant office presence in the complex.
Trend AI
A technology firm operating within the artificial intelligence sector that serves as a key tenant at the property.
The details
Spanning from 220 East Las Colinas Boulevard to 225 East John Carpenter Freeway, the complex features a renovation completed in 2016 that upgraded lobbies and the courtyard. Major tenants currently occupying the space include AmeriCredit GM Financial and Trend AI.
Timeline
The office complex underwent a multimillion-dollar facelift in 2016.
The Las Colinas Urban Center experienced 850,000 square feet of net absorption between 2024 and 2026.
Parmenter Realty Partners listed the Mandalay Towers for sale on October 23, 2026.
Culture Shift
This listing aligns with the broader demand cycle in the Las Colinas Urban Center, which recorded 850,000 square feet of net absorption from 2024 to 2026. The move reflects a larger trend of capital shifts in suburban office hubs as commercial developers capitalize on regional density.
The sale of such a large office complex may signal shifts in local commercial property management or potential changes for the onsite retail spaces. Residents and local employees may see adjustments to service amenities or tenant operations once new ownership takes control.
The takeaway
Large-scale office listings often trigger follow-up interest from developers looking to optimize occupancy in established business corridors. Investors should note that properties with strong weighted lease terms remain attractive benchmarks for valuation in the Irving market.
Further reading
For more information on the local business environment, visit the Irving Commercial section.
Source note: This article includes information reported by The Real Deal New York.
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